SA AND CHINA SIGNED A 94 BILLION WORTH OF AGREEMENTS
By: Sthabiso Mdledle
South Africa strengthened its relations with China after signing 26 agreements worth R94 billion at the Union Buildings in Pretoria on Wednesday.
According to the Presidency, the agreements were signed when President Jacob Zuma hosted his Chinese counterpart President Xi Jinping, who is on a State visit ahead of the Forum on
China-Africa Cooperation (FOCAC) Summit this week.
These leaders utilised their joint talks to assess progress made so far with regards to the implementation of the 5-10 Year Framework on the Cooperation signed in December 2014.
The Framework on Cooperation had identified the six key priority areas that include the arrangement of industries to accelerate SA’s development process, improvement of cooperation in Special Economic Zones (SEZs).
These areas include the marine cooperation; infrastructure development, human resources cooperation, as well as financial cooperation. (Presidency)
Speaking to the media after the signing of the agreements, President Zuma said that the volume of agreements indicated the amount of work that has been done in the past few months
He said that more could and should be done to increase trade and investment figures.
According to the Presidency, President Zuma called for more inward buying missions to SA which he believed will contribute to addressing the structure of joint trade with China, as well as the development of the economy.
“Total trade between South Africa and China experienced an upward trajectory since 2009, growing from R118 billion to R271 billion by the end of 2013,” said President Zuma.
President Zuma and President Xi will co-chair the China-Africa leaders’ summit in Johannesburg on Friday.